Are You Ready for IFRS? Moving Beyond the Basics

Description

IFRS (International Financial Reporting Standards) is becoming a reality in the U.S. Foreign publicly held companies, including those with U.S. subsidiaries, can already file financial statements with the SEC using IFRS and certain U.S. companies may file their financial statements under IFRS starting for years ending December 15, 2009. Also, the SEC has recently issued a release with a proposed roadmap for the potential mandatory adoption of IFRS in the United States. We recognize your need for proper and timely training and are ready to assist you in providing this crucial education.

This course prepares accountants for these upcoming changes and will help you solidify your knowledge of the similarities and differences between IFRS and U.S. GAAP. Even if your knowledge is limited, a brief recap of the important points is provided at the beginning of the course to help get you up to speed. Also, you will learn to apply specific IFRS standards to the impacted financial statement line items. Gain a greater understanding of what you need to know as the acceptance of International standards continues to grow.

Objectives:

Readily focus on the differences between IFRS and U.S. GAAP
Recognize and review the similarities between IFRS and U.S. GAAP
Apply the specific IFRS standards to the related impacted financial statement line items
Focus on the financial statement disclosure differences that often become an unwelcome surprise at the 11th hour

Who Will Benefit

CPAs, including analysts, in industry and practice

In this video, Rama Ramamurthy, CPA, Professor of Accounting at the College of William and Mary in Williamsburg, VA, discusses IFRS issues with Michael D. Erdmann, CPA, Controller at Krones Inc. in Franklin, WI; Judi Lacko, CPA, Vice President and Chief Accounting Officer at First Data International in Greenwood Village, CO; Sean Lager, CPA, Partner at Frazier & Deeter, LLC in Atlanta, GA; and Denis Lakhturov, CPA, Audit Manager at Langford de Kock LLP in Charlotte, NC.

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Chapter 0 - Overview
- Background
- List of IFRSs and Interpretations
Chapter 1 - International Financial Accounting Framework and Disclosures
- Learning Objectives
- Introduction
- Framework for the Preparation and Presentation of Financial Statements
  - Scope
  - The Objective of Financial Statements
  - Qualitative Characteristics of Financial Statements
  - Financial Statement Elements
- International Financial Statement Disclosures
  - Subsequent Events
  - Related Parties
  - Accounting Policies and Changes in Accounting Estimates and Errors
  - Segmented Reporting
- Comparison of IFRS with U.S. GAAP
  - Framework
  - Events after the Balance Sheet Date
  - Related Parties
  - Accounting Policies, Changes, and Errors
  - Operating Segments
- Adoption of IFRS
  - Correction of an Error
- IFRS Disclosure Checklist
- Summary
- Cases
  - Case 1
  - Case 2
  - Case 3
  - Case 4
Chapter 2 - Presentation of Financial Statements, EPS, and Foreign Currency Translation.. 2-1 Learning Objectives
- Introduction
- Objectives
- Effective Date
- Presentation of Financial Statements
  - Statement of Financial Position
  - Statement of Comprehensive Income
  - Statement of Changes in Equity
  - Statement of Cash Flows
- Earnings per Share
- Foreign Currency
  - Translation from Functional Currency to Presentation Currency
- Comparison of IFRS with U.S. GAAP
  - Presentation of Financial Statements
  - Forthcoming Requirements (Effective January 1, 2009)
  - Earnings per Share
  - Foreign Currency
- Interpretations
  - SIC-29: Service Concession Arrangements: Disclosure
  - IFRIC 7: Applying the Restatement Approach under IAS 29
  - SIC 7: Introduction of the Euro
  - IFRIC 17: Distributions of Non-cash Assets to Owners (Effective July 1, 2009)
- Adoption of IFRS
- IFRS Disclosure Checklist
- Summary
- Cases
  - Case 1
  - Case 2
  - Case 3
Chapter 3 - Revenue Recognition and Construction Contracts
- Learning Objectives
- Introduction
- Effective Date
- Objectives of IAS 18 and 11
- Definition
- Revenue Recognition
  - Passing of Title to the Buyer
  - Right of Return
  - Seller Holds the Goods at Buyer’s Request
  - Interpretations
- Specific Revenue Recognition Issues
  - Sales of Services
  - Multiple-Element Arrangements
  - Multiple-Element Arrangements – Software Revenue Recognition
  - Multiple-Element Arrangements – Customer Loyalty Programs
- Construction Contracts
  - Scope
  - Percentage-of-Completion Method
  - Completed Contract Method
  - Combining Contracts and Segmenting a Contract
- Measurement – Construction Contracts
  - Recognized Profits
  - Recognized Losses
- Comparison of U.S. GAAP with IFRS
- Adoption of IFRS
- IFRS Disclosure Checklist
- Summary IAS 18
- Summary IAS 11
- Cases
  - Case 1
  - Case 2
  - Case 3
Chapter 4 - Inventory
- Learning Objectives
- Introduction
- Effective Date
- Objective of IAS 2
- Definition
- Initial Measurement
  - Standard Cost Approach
  - Retail Method Approach
  - Cost Formulas
  - FIFO
  - Weighted Average
  - Which Cost Formula to Use?
  - Consistent Application of Costing Methods
  - Write-Down to Net Realizable Value
  - Service Provider’s Cost of Inventory
  - Cost of Agricultural Produce Harvested from Biological Assets
  - Comparison of IFRS with U.S. GAAP
- Subsequent Measurement
  - Comparison of IFRS to U.S. GAAP
- Adoption of IFRS
- IFRS Disclosure Checklist
- Summary
- Cases
  - Case 1
  - Case 2
  - Case 3
  - Case 4
  - Case 5
Chapter 5 - Property, Plant, and Equipment
- Learning Objectives
- Introduction
- Effective Date
- Objective of IAS 16
- Recognition
- Initial Measurement
- Subsequent Measurement
- Cost Model
- Revaluation Model
- Applying the Revaluation Model
  - Revaluation Increments
  - Transfers from Asset Revaluation Surplus
- Derecognition
- Subsequent Expenditure
- Depreciation
  - Component Depreciation
- Adoption of IFRS
- IFRS Disclosure Checklist
- Summary
- Cases
  - Case 1
  - Case 2
  - Case 3
Chapter 6 - Leases and Investment Property
- Learning Objectives
- Introduction
- Effective Date
- Objective of IAS 17
- Objective of IAS 40
- Leases
  - Classification
  - Recognition of the Investment in the Lease
  - Operating Leases
  - Sale-Leasebacks
  - Comparison of IFRS with U.S. GAAP
- Investment Property
- Interpretations – Leases
  - SIC 15: Operating Leases – Incentives
  - SIC 27: Evaluating the Substance of Transactions Involving the Legal Form of a Lease
  - IFRIC 4: Determining Whether an Arrangement Contains a Lease
- Investment Property
  - Initial Measurement
  - Purchase of Investment Property
  - Lease of an Investment Property
  - Transfer from Property, Plant, and Equipment
  - Transfer from Inventory
  - Exchange of Nonmonetary Assets
  - Business Combinations
  - Subsequent Measurement
  - Cost Model
  - Fair Value Model
- Comparison of IFRS with U.S. GAAP
  - Definition
  - Initial Measurement
  - Subsequent Measurement
- IFRS Disclosure Checklist
- Adoption of IFRS
  - Investment Property
  - Leases
- Summary IAS 40
- Summary IAS 17
- Cases
  - Case 1
  - Case 2
Chapter 7 - Intangibles and Impairment
- Learning Objectives
- Introduction
- Effective Date
- Objective
- Intangibles
  - The Nature of Intangible Assets
  - Identifiability
  - Lack of Physical Substance
  - Recognition – Separately Acquired Intangibles
  - Recognition – Additional Criteria for Internally Generated Intangibles
  - Recognition – Website Development Costs
  - Initial Measurement – Acquired Intangibles
  - Initial Measurement – Internally Generated Intangibles
  - Subsequent Measurement – Acquired and Internally Generated Intangibles
  - Amortization – Acquired and Internally Generated Intangibles
- Impairment
  - Impairment Losses
  - Fair Value Less Costs to Sell
  - Value in Use
  - Cash Flows – Basis for Estimates
  - Cash Flows – Composition of Estimates
  - Discount Rate
  - Impairment – Acquired and Internally Generated Intangibles
- Adoption of IFRS
- IFRS Disclosure Checklist
- Cases
  - Case 1
  - Case 2
  - Case 3
  - Case 4
  - Case 5
Chapter 8 - Income Taxes and Borrowing Costs
- Learning Objectives
- Introduction
- Income Taxes
  - Definitions
  - Current Tax Liabilities and Assets
  - Deferred Taxes
  - Measurement and Tax Rates
  - Recognition of Current and Deferred Tax
- Income Tax Interpretations
  - SIC 21: Income Taxes – Recovery of Revalued Non-Depreciable Assets
  - SIC 25: Income Taxes – Changes in the Tax Status of an Entity or its Shareholders
- Borrowing Costs
  - Definitions
  - Commencement Date
- Comparison of IFRS to U.S. GAAP
- IFRS Disclosure Checklist
- Adoption of IFRS
  - Deferred Tax
  - Borrowing Costs
- Summary
- Cases
  - Case 1
  - Case 2
  - Case 3
  - Case 4
Chapter 9 - SPEs, Investments in Associates, and Joint Ventures
- Learning Objectives
- Introduction
- SIC 12: Consolidation – Special Purpose Entities
- IAS 28: Investments in Associates
- IAS 31: Interests in Joint Ventures
- Summary of IFRS and U.S. GAAP Requirements for SPEs
- Comparison of IFRS with U.S. GAAP: Associates and Joint Ventures
- Adoption of IFRS
  - SPEs
  - Associates and Joint Ventures
- IFRS Disclosure Checklist
- Summary
- Cases
  - Case 1 – SPE
  - Case 2 – SPEs
  - Case 3 – Associates
  - Case 4 – Joint Venture
  - Case 5 – Joint Ventures
Chapter 10 - Business Combinations, Consolidations, and Noncontrolling Interests
- Learning Objectives
- Introduction
- Effective Date
- IFRS 3 – Business Combinations
  - Key Terms used in IFRS 3
- The Acquisition Method
  - Identifying the Acquirer
  - Determining the Acquisition Date
  - Consideration Transferred (Purchase Price)
  - Determining What Is Part of the Business Combination Transaction
  - Contingent Consideration
  - Acquisition-Related Costs
  - Restructuring and Exit Costs
  - No Transfer of Consideration
  - Recognizing and Measuring Identifiable Assets Acquired, Liabilities Assumed, and Noncontrolling Interests
  - Classifying or Designating Identifiable Assets Acquired and Liabilities Assumed
  - Measurement Principle
  - Exceptions to the Recognition or Measurement Principles
  - Contingent Liabilities
  - Income Taxes
  - Recognizing and Measuring Goodwill
  - Bargain Purchases
  - Business Combination Achieved in Stages (Step Acquisition)
  - Measurement Period
- IAS 27 – Consolidated and Separate Financial Statements
  - Key Terms Used in IAS 27
  - Presentation of Consolidated Financial Statements
  - Control
  - Consolidation Procedures
  - Intercompany Transactions
  - Accounting Policies
  - Financial Statement Dates
- Noncontrolling Interests
  - Changes in Ownership
  - Loss of Control
- Adoption of IFRS
- IFRS Disclosure Checklist
- Comparison of IFRS 3 (2008) and SFAS No. 141(R)
- Comparison of IAS 27 and SFAS No. 160
- Cases
  - Case 1 – Identifying the Acquirer
  - Case 2 – Acquisition Accounting under IFRS 3 (2008)
  - Case 3 – Goodwill and Consolidated Statement of Financial Position
  - Case 4 – Control: Presenting Consolidated Financial Statements
  - Case 5 – Accounting Policies and Financial Statement Dates
Chapter 11 - Share-based Payments
- Learning Objectives
- Introduction
- Effective Date
- Objective of IFRS 2
- Share-based Payments
  - Recognition
  - Measurement
  - Equity-Settled Share-Based Payment Transactions
  - Cash-Settled Share-Based Payment Transactions
  - Choice of Equity-Settled or Cash-Settled
  - Modifications, Cancellations, and Settlements
- Comparison of IFRS with U.S. GAAP
  - General
  - Employee Share-Based Payment Transactions
  - Nonemployee Share-based Payment Transactions
  - Employer’s Payroll Tax Payable on Exercise of Share Options by Employees
- Interpretations
  - IFRIC 8: Scope of IFRS 2
  - IFRIC 11: IFRS 2 Group and Treasury Share Transactions
- IFRS Disclosure Checklist
- Adoption of IFRS
- Summary
- Questions and Cases
  - Question 1
  - Question 2
  - Case 1
  - Case 2
  - Case 3 – Repricing
Chapter 12 - Employee Benefits, Pensions, and Postretirement Benefits
- Learning Objectives
- Introduction
- Objectives
- Effective Date
- IAS 19
  - Recognition of Actuarial Gains and Losses
  - Multiemployer Plans
  - Other Long-term Employee Benefits
  - Termination Benefits
- Comparison of IFRS with U.S. GAAP
- Interpretation IFRIC 14
- Adoption of IFRS
  - Actuarial Valuations
  - Estimates
  - Unrecognized Past Service Costs
  - Actuarial Gains and Losses – The “Corridor” Approach
- IFRS Disclosure Checklist
- Summary
- Cases
  - Case 1
  - Case 2
Chapter 13 - Provisions, Contingencies, and Insurance Contracts
- Learning Objectives
- Introduction
- Objectives
- Effective Date
- Scope of IAS 37
- Scope of IFRS 4
- Provisions
- Contingent Assets and Contingent Liabilities
- Insurance Contracts
- Comparison of IFRS with U.S. GAAP
  - Provisions
  - Contingent Assets and Contingent Liabilities
  - Insurance Contracts
- Interpretations
  - IFRIC 1: Changes in Existing Decommissioning, Restoration and Similar Liabilities
  - IFRIC 5: Rights to Interests Arising from Decommissioning, Restoration and Environmental Funds
  - IFRIC 6: Liabilities arising from Participating in a Specific Market – Waste Electrical and Electronic Equipment
- Adoption of IFRS
  - IFRS 4
  - IFRIC 1
- IFRS Disclosure Checklist
- Summary
- Cases
  - Case 1
  - Case 2 – Restructuring
Chapter 14 - Financial Instruments: Presentation and Disclosures
- Learning Objectives
- Introduction
- Objectives
- Effective Dates
- Scope of IAS 32
- Key Definitions
- Presentation
- Puttable Instruments and Obligations Arising on Liquidation
- Compound Financial Instruments
- Interest, Dividends, Gains and Losses
- Treasury Shares
- Offsetting
- Comparison of IFRS with U.S. GAAP – Classification
- IFRS 7 – Financial Instrument Disclosures
- Comparison of IFRS with U.S. GAAP – Disclosures
- IFRIC 2 – Members’ Shares in Co-operative Entities and Similar Instruments
- IFRS 7 Disclosure Checklist
- Summary
- Cases
  - Case 1
  - Case 2
  - Case 3
Chapter 15 - Financial Instruments: Recognition and Measurement
- Learning Objectives
- Introduction
- Effective Date
- Objective
- Definitions
- Financial Instruments
  - Initial Recognition
  - Regular-Way Purchases or Sales of a Financial Asset
  - Initial Measurement
  - Measurement Subsequent to Initial Recognition of Financial Assets
  - Measurement Subsequent to Initial Recognition of Financial Liabilities
  - IAS 39 Fair Value Option
  - Impairment
  - Derecognition of a Financial Asset
  - Derecognition of a Financial Liability
  - Amendment to IAS 39
- Comparison of IFRS with U.S. GAAP
- Adoption of IFRS
  - Derecognition
  - Designation upon Transition
- IFRS Disclosure Checklist
- Summary
- Cases
  - Case 1
  - Case 2
  - Case 3 – Derecognition of Financial Receivables on Adoption to IFRS
  - Case 4 – Classifying Common Financial Instruments under IAS 39
  - Case 5 – Classifying Common Financial Instruments under IAS 39
Chapter 16 - Derivatives and Hedge Accounting
- Learning Objectives
- Introduction
- Effective Date
- Objective
- Derivatives
  - Examples of Derivatives
  - Embedded Derivatives
  - Measurement
- Hedge Accounting
  - Hedging Instruments
  - Hedged Items
  - Effectiveness
  - Categories of Hedges
  - Fair Value Hedge Accounting for a Portfolio Hedge of Interest Rate Risk (“Macro Hedging”)
  - Discontinuation of Hedge Accounting
- Comparison of IFRS with U.S. GAAP
- Interpretations
  - IFRIC 9: Reassessment of Embedded Derivatives
  - IFRIC 12: Service Concession Arrangements
  - IFRIC 16: Hedges of a Net Investment in a Foreign Operation (Effective October 1, 2008)
- Adoption of IFRS
  - Hedge Accounting
  - Mandatory Exemption
- IFRS Disclosure Checklist
- Summary
- Cases
  - Case 1 – Offsetting
  - Case 2 – Embedded Derivatives
  - Case 3 – Hedge Accounting
  - Case 4 – IFRIC 9
Chapter 17 - Latest Developments
Appendix A - Presentation and Disclosure Checklist
Appendix B - IFRS Compared to U.S. GAAP: An Overview

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Excerpts

Chapter 1- International Financial Accounting Framework and Disclosures

Learning Objectives

Review international financial accounting concepts discussed in the IASB’s Framework for the Preparation and Presentation of Financial Statements.
Explain the disclosures for subsequent events and related parties discussed in IAS 10 Events after the Balance Sheet Date, and IAS 24 Related Party Disclosures.
Discuss the disclosure requirements in IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.
Review segmented reporting discussed in IFRS 8 Operating Segments.
Study cases to discuss the concepts in more depth.
Discuss the similarities and differences between IFRS and U.S. GAAP as regards the financial accounting framework, and disclosure for subsequent events, related parties, accounting changes, and operating segments.

Introduction

This chapter focuses on two important elements of international financial accounting:

1. The framework adopted by the International Accounting Standards Committee (IASC), discussed in the IASB’s Framework for the Preparation and Presentation of Financial Statements; and

2. The significant reporting disclosures required in IFRSs and IASs related to subsequent events, related parties, accounting changes, and operating segments.

Framework for the Preparation and Presentation of Financial Statements

International accounting concepts and financial reporting are driven by the needs of many different user groups. Although the preparation of financial statements may appear similar from country to country, differences arise in national requirements due to various social, economic, and legal circumstances. These differences include the use of a variety of definitions of assets, liabilities, equity, income, and expenses; differing recognition and measurement criteria; and the scope of financial statements and disclosures made within them.

The International Accounting Standards Committee is committed to narrowing these differences by seeking to harmonize regulations, accounting standards, and procedures relating to the preparation and presentation of financial statements useful in making economic decisions. The IASC recognizes that governments may specify different or additional requirements for their own purposes, but such requirements should not affect financial statements published for the benefit of other users (outside of local government jurisdictions) unless they also meet the needs of those other users.

The IASB’s Framework for the Preparation and Presentation of Financial Statements (Framework) sets out the concepts that underlie the preparation and presentation of international financial statements for external users. The Framework is intended for use by the IASB in setting accounting standards as well as to

Assist the IASC Board in developing future IASs and in its review of existing IASs;
Assist the IASC Board in promoting harmonization of regulations, accounting standards, and procedures relating to the presentation of financial statements by providing a basis for reducing the number of alternative accounting treatments permitted by IASs;
Assist national standard-setting bodies in developing national standards;
Assist preparers of financial statements in applying IFRS and in dealing with topics that have yet to form the subject of an international standard;
Assist auditors in forming an opinion whether financial statements conform with IFRS;
Assist users of financial statements in interpreting the information contained in financial statements prepared in conformity with IFRS; and
Provide those who are interested in the work of IASC with information about its approach to the formulation of IFRS.

It is important to note here that the Framework is not a Standard and, therefore, does not define standards for any particular measurement or disclosure issue. Nothing in the Framework overrides any specific international accounting standard. However, if no IFRS standard specifically applies to a truncation, other event, or condition, and management must use its judgment in developing an accounting policy, the definitions, recognition criteria, and measurement concepts for assets, liabilities, income, and expenses in the Framework take precedence under IAS 8 over all other sources (such as accepted industry practices and recent pronouncements of other standard-setting bodies that use a similar conceptual framework – such as the FASB).

Scope

The Framework is concerned with general purpose annual financial statements, including consolidated financial statements, directed toward the common information needs of a wide range of users that rely on the financial statements as their major source of financial information. A complete set of financial statements normally includes a statement of financial position, a statement of comprehensive income, a statement of changes in equity, a statement of cash flows, and accounting policies and explanatory notes. The Framework applies to the financial statements of all commercial, industrial, and business reporting entities, whether in the public or the private sectors, and deals with

a) The objective of financial statements;

b) The qualitative characteristics that determine the usefulness of information in financial statements;

c) The definition, recognition, and measurement of the elements from which financial statements are constructed; and

d) The concepts of capital and capital maintenance.

The Objective of Financial Statements

The Framework reiterates that the objective of financial statements is to provide information about the financial position (and changes therein) and performance of an entity that is useful to a wide range of users in making economic decisions. Financial statements also show the results of the stewardship of management over the resources entrusted to it so that users can make informed decisions regarding the entity.

Like U.S. GAAP, international financial statements are prepared on the accrual basis of accounting, with the effects of transactions and other events recognized when they occur. Financial statements prepared on the accrual basis inform users not only of past transactions involving the payment and receipt of cash, but also of obligations to pay cash in the future and of receipts that represent cash to be received in the future. Hence, they provide the type of information about past transactions and other events that is most useful to users in making economic decisions.

International financial statements are also normally prepared on the assumption that an entity is a going concern and will continue in operation for the foreseeable future. Hence, it is assumed that the entity has neither the intention nor the need to liquidate or curtail materially the scale of its operations; if such an intention or need exists, the financial statements may have to be prepared on a different basis and, if so, the basis used is disclosed.

Qualitative Characteristics of Financial Statements

Although financial statements are generally thought of in terms of an entity’s quantitative results of operations, the qualitative characteristics of financial information can be just as important to users of financial statements as “the numbers.” The four principal qualitative characteristics are understandability, relevance, reliability, and comparability.

Understandability

To be of any use at all to users of financial statement information, it must be understandable. This understanding is generally thought of in the context of users having a reasonable knowledge of business-related economic activities, accounting principles, and a willingness to study the information with reasonable diligence. However, information about complex matters that should be included in the financial statements because of its relevance to the economic decision-making needs of users should not be excluded merely on the grounds that it may be too difficult for certain users to understand.

Relevance

To be useful in the decision-making process, information must not only be understandable but also relevant to users. Information has the quality of relevance when it has the capacity to make a difference in a decision by helping users evaluate past, present, or future events, or to confirm or correct prior evaluations.

Information about past performance is frequently used as the basis for predicting future performance; for example, return on investments, dividend payments, and stock prices. The ability to make predictions from financial statement information is enhanced by the manner in which information on past transactions and events is displayed. For example, the predictive value of the comprehensive statement of income is enhanced if unusual and infrequent items are disclosed separately.

The relevance of information is also affected by its nature and materiality. In some cases, the nature of information alone is sufficient to determine its relevance; for example, a pending lawsuit may affect the assessment of risk facing an entity regardless of its materiality. The Framework defines materiality as an omission or misstatement of information that could influence users’ economic decisions based on the financial statements.

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Other Options

Beyond IFRS Basics On-Demand Series (159700)
NASBA Field of Study: Accounting
Level: Intermediate
Recommended CPE Credit: 20.5
Regular: $273.75 /AICPA Member: $219.00

This course’s video and text content covers the International Financial Accounting framework and disclosures; the presentation of financial statements; revenue recognition and construction contracts; inventory; property, plant, and equipment; leases and investment property; intangibles and impairment; income taxes and borrowing costs; SPEs, investments in associates, and joint ventures; business combinations, consolidations, and noncontrolling interests; share-based payments; employee benefits, pensions, and postretirement benefits; provisions, contingencies, and insurance contracts; and financial instruments’ presentation, disclosures, recognition, and measurement.

Objectives:

Readily focus on the differences between IFRS and U.S. GAAP
Recognize and review the similarities between IFRS and U.S. GAAP
Apply the specific IFRS standards to the related impacted financial statement line items
Focus on the financial statement disclosure differences that often become an unwelcome surprise at the 11th hour

Prerequisite: Completion of AICPA course International versus U.S. Accounting: What in the World is the Difference or a high-level understanding of the conceptual differences between IFRS and U.S. GAAP.
In the video, Rama Ramamurthy, CPA, discusses those topics with Michael D. Erdmann, CPA, Judi Lacko, CPA, Sean Lager, CPA, and Denis Lakhturov, CPA.

Beyond IFRS Basics: IFA Framework and Disclosures; Presentation (159701)
NASBA Field of Study: Accounting
Level: Intermediate
Recommended CPE Credit: 3
Regular: $111.25 /AICPA Member: $89.00

This course’s portion of the video and text content covers the International Financial Accounting framework and disclosures and the presentation of financial statements.